Global Hydrogen Fueling Station Market Outlook to 2028

Drivers:

• Governments around the world have pledged approximately USD 70 billion in public support for hydrogen-related projects.
• Growing demand for the adoption of low-carbon alternative fuels such as green hydrogen to reduce carbon emissions.
• The adoption of green hydrogen applications across multiple sectors, including road transport, aviation, rail, marine, materials handling, off-highway, and remote use.
• The declining cost of hydrogen.
• Rising policy pressure to phase out the sales of internal combustion vehicles.
• Rapidly growing hydrogen mobility market (Fuel Cell Electric Vehicles (FCEVs))- U.S.A., Japan, and Korea.
• Incentives for hydrogen charging station network - California, Germany, Sweden, Norway, and Denmark, China.
• The declining cost of refueling stations and fuel stacks in Korea and Japan.

Hydrogen Fueling Stations (HRSs):

Hydrogen fueling stations dispense hydrogen into fuel cell vehicles at 350 bar or 700 bar. The hydrogen filling stations have four main components: supply, compression, storage, and dispensing. Hydrogen can be delivered as a liquid or a gas, and it can also be created on-site.

Liquid hydrogen is delivered by tanker trucks which is then stored outdoors in vertical or horizontal tanks. The liquid hydrogen is vaporized and compressed to 6,600 psi in this system. This high-pressure compressed gas is stored in steel or composite tubes attached to the hydrogen dispenser, which safely and quickly dispenses hydrogen for light-duty vehicles in around five minutes (LDVs).

Hydrogen fueling stations are used to fuel cars, heavy-duty trucks, vans, buses, scooters, forklifts, locomotives, planes, cell towers, material handling equipment, and even submarines.

Hydrogen Fueling Stations around the World:

The number of hydrogen refueling stations (HRSs) is expanding more slowly than FCEVs, with an average annual rise of nearly 20% from 2017 to 2020. As a result, the ratio of FCEVs to HRSs is rising, especially in nations with the largest FCEV sales.

In 2020, this ratio in Korea was about 200:1, and in the United States, it was 150:1, compared to only 30:1 in Japan. This is partly due to surplus HRS capacity, as stations are being built with FCEV development in mind.

More than 540 hydrogen refueling stations were operational worldwide by the end of 2020, up more than 15% from 2019. According to a continent-by-continent survey, Asia has the most HRSs (278), followed by Europe (190) and North America (68).

Japan remained the leader with 137 stations, followed by Germany (90) and China (85). The U.S. occupies the fourth position with 63 stations, ahead of South Korea (52) and France (38).

In 2020, the number of stations in operation increased significantly, with China and Japan opening 24 new stations each, followed by South Korea with 18, France with 13, and Germany with 9 new stations.

Hydrogen Refueling Stations at late 2021:

Restraints:

• FCEVs remain more expensive than comparable Internal Combustion Engine (ICE)vehicles or Battery Electric Vehicles (BEVs).
• Hydrogen refueling stations will only be installed when there is sufficient collective demand.
• Countries prioritizing plug-in hybrid electric cars roll-outs.
• High upfront capital investment.

Recent Trends & Development:

• On November 2, 2021, Hiring a Refuelling New Zealand announced it is commencing the construction phase of the first four high-capacity green hydrogen refueling stations for zero-emission heavy FCEVs (fuel cell electric vehicles) such as trucks and buses across New Zealand.
• In the third quarter of 2021, Air Liquide and LOTTE Chemical have signed a Memorandum of Understanding (MoU) to co-invest in new hydrogen filling stations in South Korea.
• On February 4, 2021, Linde Plc announced its partnership with Hyosung Corporation (Hyosung), one of South Korea's largest industrial conglomerates, to build, own and operate an extensive new liquid hydrogen refueling station in South Korea.
• In September 2020, Linde Plc started the construction of the world's first hydrogen refueling station for passenger trains in Germany, expected to start service in early 2022. The HRS has a daily hydrogen capacity of roughly 1,600 kg, making it one of the largest hydrogen stations ever built in terms of nameplate capacity.
• In July 2021, Air Products announced its first hydrogen refueling infrastructure project for the 2022 Winter Olympics in China. It is the first hydrogen fueling station of its kind to serve this international event.

Opportunities:

• Markets with Growth potential for hydrogen vehicles - Europe (France, Netherlands, Italy, Germany, and the United Kingdom), Asia-Pacific (Japan, China, South Korea), and the U.S.A.
• Growing hydrogen heavy-duty vehicles market.

Some global policies supporting hydrogen fueling stations:

• Hungary – 2021, National Hydrogen Strategy.
• New Zealand – 2021, Nationwide network of hydrogen-fuelling stations.
• Canada – 2020, Low-carbon and Zero-emissions Fuels Fund (including hydrogen).
• Japan – 2021, Green Growth Strategy.

Regional Analysis:

Germany:

• To contribute towards climate change mitigation around the world, in 2020, Germany has adopted the National Hydrogen Strategy. The country aims to become greenhouse gas neutral by 2045 and hydrogen is seen as a key component in achieving this goal.
• To speed up the rollout of hydrogen production and technology, the Government announced a 5 GW electrolyzer deployment target by 2030. The produced hydrogen will be mainly used for transportation, electricity generation and other industries. Also, the country plans to have an additional 5 GW of capacity, if possible, by 2035 and no later than 2040.
• With the growing number of FCEVs and continued support from the government, the development of hydrogen refueling infrastructure in the country is advancing significantly.
• In 2020, the number of HFS stations in operation increased remarkably with Germany opening 9 new Hydrogen Refueling Stations. As of July 2021, there are around 97 Hydrogen Refueling Stations (HRSs) in the country. Many of the 97 HFS stations have 700 bar pressure, while others provide dual pressure (350/700).

Blackridge Research's Global Hydrogen Fueling Station Market report provides insights into the current global and regional Global market demand scenario and its outlook.

This study offers a detailed analysis of various factors instrumental in affecting the Global Hydrogen Fueling Station market's growth. The study also comprehensively analyses the market based on geography (North America, Europe, Asia-Pacific, and the Rest of the world).

This report also includes the latest market trends, drivers and restraints, present and future opportunities, new projects, the global impact of Covid-19 on the Global Hydrogen Fueling Station market, and significant developments.                                                                    

Further, the report will also provide Global Hydrogen Fueling Station market size, demand forecast, and key competitors in the market.